@JosephF8 No, This pertains to why I originally purchased the home. There is a line for ($4k) on the Closing Disclosure from when I purchased shown as “seller credit”. But I haven’t seen anything about reducing the cost basis for seller credits in any research I’ve done. Just says final price of the home + buyer closing costs (excluding anything related obtaining mortgage) + home improvements to get to my adjusted basis. Then my understanding is I’d subtract that from my realized amount from when I sold (selling home price less selling closing costs). I feel like seller credits are common practice so I’m not sure why I can’t find how to treat as the buyer who receives the credit (versus the seller who gives them which is well documented). Thanks!
